The EURJPY was volatile yesterday but overall still maintain its bullish outlook after found support at the lower line of the bullish channel but still unable to move consistently above 116.00 so far. The bias is neutral in nearest term. Immediate support at 115.70. A clear break below that area could trigger further bearish pressure retesting the lower line of the bullish channel and 115.00 support area. Immediate resistance at 117.00/80 which is a key resistance area at this phase along with the trend line resistance (white). Aggressive traders can long around the lower line of the bullish channel and 115.00 with tight stop loss as a clear break below that area could be a threat to the bullish outlook.
The GBPJPY attempted to push higher yesterday but still unable to make a clear break above 132.30 and hit 131.48 earlier today in Asian session. The bias is neutral in nearest term and there are no changes in my daily technical outlook as overall price still trapped in a sideways condition. A minor range area between 130.20 – 132.30 and a major range area between 130.20 – 135.15. I will keep stay away from this pair from now. I still prefer a bearish scenario but would need a clear break below 130.20 to reactivate my bearish mode.
The AUDUSD continued its bullish momentum yesterday, move back above the trend line support as you can see on my h4 chart below despite of broad US Dollar strength. The bias is bullish in nearest term testing 1.0770. A clear break above that area could trigger further bullish scenario retesting 1.0880 – 1.1010 even aim for new all time high. Immediate support at 1.0650. A clear break below that area would lead us to neutral zone in nearest term as direction would become unclear but could trigger another attempt retesting 1.0500 support area and create a sideways condition between 1.0700 – 1.0500.
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